I have searched for over a year for single family or multi-family properties.  

Here are the key data points:Park info  Located in Alabama61 lots25 owner occupied homes18 park owned homes (14 currently rented; 4 currently being repaired and should be rented soon)18 vacant lotsAvg lot rent - $160 (unknown what the market rate is but it doesn't sound like there has been a rent increase in at least a year, maybe more)Avg POH rent - $400Expense ratio - seller claims 26% but I'm estimating 35% for the lots and 50% for the POH'sCity water - individually meteredSeptic - good condition (allegedly); a couple were pumped last year, none this year (no lagoon thank heavens)Seller claims gross income $130k, expenses $30k, and NOI $100kI calculated gross income of ~$135k, expenses of $60k (55% on POH and 35% on lot rentals), and NOI of $75kOther infoMom & pop seller, but park is listed with a brokerPark has been on the market for > 3 years (recent price reduction)Greater metro area stats look goodPopulation = 115kMedian home price = $105kUnemployment < 8%Household income > $40kHousing vacancy ~ 15%Closest Walmart is 7 miles awayFreeway is 1.5 miles awayNumbersMy valuation is coming out about $80k-$100k under the seller's asking priceWith conventional financing I'd be hoping for a purchase price of $500k, $100k down @ 6% over 20 years (not sure if this is plausible or not)Assuming that financing, I'm expecting net cash flow of $40k (after debt service)Upside potential is in raising rent and filling the 18 vacant lotsFollowing the same assumptions above, raising rent $50 (if the market supports it) would change NOI to ~$90k and net cash flow of just over $50kFilling the vacant lots could potentially increase gross rent up to somewhere between $150k-$200k, depending on what the appropriate occupancy rate is for the areaWithout verifying any of the above information (haven't offered anything yet so there's a lot of DD left to do), the deal seems to make sense. 

The reinvestment requirements of the 1031 exchange are still in force - you must purchase at least as much as you sell (that is the 85K) and you must use all of the proceeds in the purchase (that is the 85K of cash proceeds).So you will purchase the property from the intermediary using $85K of exchange proceeds and then either bringing a new loan for the remainder, assuming the balance of the loan currently on it (from the family member), or simply bringing cash of your own to the closing.Your intermediary will sell the property to you (or hopefully if they're thinking about it they will assign you the membership interest in the single member LLC so  you avoid a second closing and transfer tax and you get a free LLC out of the deal) and pay off the mortgage they had to make to the family member.You cannot accept cash from the closing of your sale without incurring a tax event.

Your income has to cover that, plus any maintenance to the machines, as well as your time to collect the money.For a single pair of machines, a speedqueen could cost $1000 per unit or $2000.

Or even a single family home.

Plus almost no bank I know of in Baltimore is going to do a single loan on a single property.  

Just purchased a single family home complete renovated in Austin, TX (East Austin) and I'm having a hard time finding renters because of the "area".

On the property are 3 trailer properties two single wides, one newer double wide.

I have a $240k single-fam rental and am selling as we speak.  

Additionally, the properties are all over (two-flat in a suburb of Chicago, a duplex in Austin, TX, a single family home in Ruston, LA and another single family outside of New Orleans.